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Fintech Firm Pine Labs Files Draft Papers with SEBI to Raise Funds via IPO

On June 26, 2025, Pine Labs, an Indian fintech company, submitted its preliminary IPO documents to SEBI with plans to raise ₹2,600 crore.
Pine Labs seeks funding via fresh equity to repay debt and invest in technology and overseas subsidiaries amid a slow Indian IPO market this year.
The IPO includes an offer for sale of up to 14.78 crore shares by existing investors such as Peak XV, PayPal, and Mastercard.
Pine Labs reported net profit of ₹26.24 crore for nine months ended December 2024 and processed transactions worth ₹7.53 lakh crore in fiscal 2024.
The IPO could peg Pine Labs’ valuation in the range of $5 billion to $6 billion, indicating a possible revival in India's sluggish equity markets as foreign investor interest starts to pick up.

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Moneycontrol

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Pine Labs files IPO papers with SEBI to raise Rs 2,600 crore primary ...

2 days ago·India

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Firstpost News

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India's Pine Labs eyes up to $6 bn valuation in $1 bn IPO

Pine Labs, which provides payment solutions such as point-of-sale machines for card transactions, is targeting a valuation between $5 billion and $6 billion

3 days ago·Mumbai, India

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Financial Express

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Fintech major Pine Labs files for Rs 2,600 crore IPO

Fintech firm Pine Labs has filed for an Initial Public Offering (IPO) to raise Rs 2,600 crore through fresh equity. The funds will primarily be used for debt repayment, IT investments, and global expansion. Existing investors and co-founder Lokvir Kapoor will also sell shares. Pine Labs reported Rs 1,208.2 crore in revenue and Rs 26.14 crore profit in FY24, processing significant transaction volumes.

3 days ago·Uttar Pradesh, India

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Bloomberg

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PayPal-Backed Pine Labs Files India IPO Riding on Fintech Boom

Digital payments provider Pine Labs Ltd. filed for an initial public offering in India, as the government’s digitization push fuels a boom in the financial technology space.

3 days ago·United States

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Live Mint

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Fintech firm Pine Labs files draft papers with SEBI to raise funds via IPO

IPO Watch: Pine Labs has filed its preliminary draft papers offering a fresh issue of shares worth ₹2,600 crore, along with an offer-for-sale (OFS) component of more than 14.78 crore shares as the fintech firm plans to expand globally and enhance technology.

3 days ago·New Delhi, India

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